Musk’s various publicity stunts caused Dogecoin to shoot up in value, but today we look at newcomer Dogetti as we try to answer the question: do memecoins need celebrity endorsement to succeed?
As the crypto market continues to fluctuate, with highs and lows becoming more extreme, the emergence of meme coins like Dogecoin and Shiba Inu has taken the market by storm. At the forefront of the movement is tech billionaire Elon Musk, whose tweets and public statements have been known to cause waves in the market. One particular meme coin that has gained traction independent of that is Dogetti, which operates similarly to Dogecoin and Shiba Inu. In this article, we explore the impact of Elon Musk’s tweets on the rise of meme coins and how Dogetti fits into this narrative.
Dogecoin And Elon: Real Support Or Marketing?
The price of Dogecoin surged over 30% after Twitter CEO Elon Musk replaced the platform’s logo with an image of the digital coin’s logo, a shiba inu. This came after Twitter and Musk asked a federal judge to dismiss a $258 billion lawsuit accusing the billionaire of manipulating Dogecoin’s price and driving it up over 36,000%. Musk’s lawyers described his public statements about the coin as “innocuous and often silly tweets” in a court filing. Two of Musk’s companies, Tesla and the Boring Company, are also named in the lawsuit. Musk has endorsed Dogecoin publicly, and in December 2021, Tesla announced it would accept Dogecoin for some merchandise.
One must wonder, would Dogecoin have fared so well if it weren’t for Musk? More importantly, can newer memecoins such as Dogetti rise based on their merits alone? Let’s explore Dogetti to find out.
Dogetti – From Underdog To Top Dog
Dogetti (DETI) is a meme coin that operates similarly to Dogecoin and Shiba Inu, basing itself on the Doge meme with a mafioso twist. It is a fun and playful addition to the crypto market, which is teaming up with over-serious coins. Dogetti’s choice of mascot and theme is meant to portray its communal values and close-knit bonds.
The appeal of meme coins lies in their ability to capture the attention of a younger audience who may not have previously been interested in traditional investments. This demographic is drawn to the playful and comedic nature of meme coins, which has been further amplified by the influence of celebrities like Elon Musk. However, Dogetti is more than just a meme. It’s a real usable token with many features that may entice veteran crypto enthusiasts. Dogetti’s wealth-sharing philosophy manifests itself in its plan to redistribute 2% out of every transaction to the token holders, and its social awareness is shown by its plan to donate another 2% to a charity wallet that will be given to a charity of the community’s choice; which they will make by voting via Dogetti’s own DAO. To preserve the long-term stability of the token, a percentage will regularly be sent to the burn and liquidity wallets as well.
Do you want to join the Dogetti mafia without swearing a blood oath to Don Eloni? Dogetti provides its community with the option to adopt a puppy from its NFT collection. Each puppy is unique, but they are all adorable, and they are not without some value, as the dev team is working on adding a feature to the pups that would enable them to breed, thus multiplying owners’ investments as they can afterwards be sold and traded.
While it does indeed make things easier, coins do not strictly need celebrity support to rise and grow in value. We believe that a well-made and well-developed coin such as Dogetti can soar on its own wings. Whether it is the NFT collection, the community, or the simple appeal of its mascots, we think that Dogetti may well be the next shining star in the crypto night sky.
Want a cut of the hustle? Join the Dogetti family here:
Presale: https://dogetti.io/how-to-buy
Website: https://dogetti.io/
Twitter: https://twitter.com/_Dogetti_
Telegram: https://t.me/Dogetti